International Investor Presentation Delivering Transformational Growth

Transcription

1 Santos Ltd ABN Ground Floor, Santos Centre 60 Flinders Street Adelaide South Australia 5000\ GPO Box 2455 Adelaide South Australia 5001 Direct: Facsimile: TO: FROM: Company Announcements Office ASX Ltd Company Secretary DATE: 4 March 2010 SUBJECT: International Investor Presentation Delivering Transformational Growth Please find attached presentation slides being presented at International Conferences during March James Baulderstone Company Secretary

2 1 Investor Presentation Delivering Transformational Growth March 2010 Disclaimer & Important Notice This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates. All references to dollars, cents or $ in this document are to Australian currency, unless otherwise stated. 2 1

3 Santos Overview Regional footprint of operations One of Australia's leading upstream oil and gas companies and has been operating since Kyrgyz Republic 1954 Bangladesh Kutei Basin India Current production is: Nam Con Son Basin - ~600 MMscf/d of gas East Java Basin - ~40 kbbls/d of liquids Browse Basin Employs approximately 2,200 people Over 110,000 shareholders Market capitalisation of ~US$10 billion (Feb 2010) Exposure to LNG facilities and technology through its involvement as a key stakeholder in Darwin LNG, PNG LNG, GLNG and Bonaparte LNG 3 Exploration Production Carnarvon Basin Key statistics (YE 2009) Phu KhanhBasin Otway Basin Timor Sea & Timor Gap Bonaparte Basin West Papua and Papua New Guinea Amadeus Basin Cooper Basin Surat/Bowen Basins Gunnedah Basin Gippsland Basin 1P reserves 647 mmboe 2P reserves 1,440 mmboe Contingent resources 2,497 mmboe 2009 production 54.4 mmboe P reserve replacement ratio 885% The Santos Strategy Using quality assets, Santos will safely deliver: Base business Eastern Australia: Margin growth and resource conversion Indonesia: Established business with incremental growth WA: Growing a material domestic gas business LNG growth GLNG: A leading CSG to LNG project, FID mid-2010 PNG LNG: FID Dec-09, first LNG production mid-2014 Darwin LNG: Mature brownfield LNG growth Bonaparte LNG: Innovative floating LNG project Focused growth in Asia Vietnam: Develop Chim Sao and exploration-led growth India/Bangladesh: Bay of Bengal exploration-led growth 4 2

4 Delivering Transformational Growth Base Business LNG Growth Asia Target 2009 production mmboe Next phase of projects on schedule Portfolio management GLNG PNG LNG Funding for growth India / Bangladesh Vietnam Delivery 54.4 mmboe in line with guidance Oyong Phase 2 (Indonesia) first gas delivered on schedule Henry (Vic) first gas 1H10 Kipper (Vic) first gas 1H11 Reindeer (WA) first gas 2H11 Acquisition of additional acreage and investment in ESG $300 million in asset sales executed including Petrel/Tern/Frigate Binding HoA with PETRONAS for 2mtpa with 1mtpa option underpins first LNG train EIS & Supplemental EIS lodged, public submissions closed 1 Feb 10 FEED studies well advanced, long lead engineering orders placed Fairview produced water approval FID 8 December 2009 on schedule 6.6mtpa capacity fully contracted Successful $3 billion equity raising Bay of Bengal 3D seismic survey completed Chim Sao project sanctioned - first oil 2H11 5 Transformational Reserves Growth 2P Reserves (mmboe) Yr CAGR = 18% Base LNG 6 3

5 Production and sales grow to record levels Sanctioned projects drive production higher: 7% CAGR production within guidance range 2010 impacted by lower Mereenie (contract expiry post Blacktip) & Bayu Undan (35-day shutdown) New production from sanctioned projects on line from 2011: Kipper, Reindeer & Chim Sao Third party gas sales a significant new profit centre Production and Sales (mmboe) Sales Production Range Sales forecast based on mid-point of annual production range Asset divestment options being reviewed may result in sale of production 7 Growth in LNG 8 4

6 LNG is a key component of Santos Growth Strategy Strategy Components Deliver the Base Business LNG Growth Focused growth in Asia Bonaparte LNG 2mtpa FLNG Santos 40% with carry to FID Darwin LNG Production since mtpa single train Santos 11.5% PNG LNG Sanctioned Dec mtpa two trains First LNG 2014 Santos 13.5% GLNG Leading CSG to LNG 7.2mtpa two trains FID mid-2010 Santos 60% 9 Strong Asia Pacific LNG Demand Outlook LNG Contracted Supply (mtpa) Others Brunei PNG Oman Indonesia Malaysia Qatar Russia East LNG Demand Uncontracted Demand LNG Demand (mtpa) 0 Australia Source: Wood Mackenzie Others includes: Alaska, Trinidad, Egypt, Yemen, UAE, Iran 5

7 Continue to See Strong Long Term LNG Pricing Ex-ship LNG Price ($/MMBtu Ex-Ship LNG Price ($/MMBtu) $18 $16 $14 $12 $10 $8 $6 $4 $2 Asian Term Prices US$12.40/MMBtu Oil Parity $20 $30 $40 $50 $60 $70 $80 $90 $100 JCC ($/Bbl) Source: Poten & Partners Late Mid 2006 Late 2005 Early Recent contracts point to strong underlying demand Pricing reflects new supply-demand equilibrium Long-term Asia- Pacific pricing remains oil-linked 11 GLNG 12 6

8 The Project Two Trains Upstream Pipeline LNG Plant Shipping Customers Fairview Arcadia Train 1 3.6mtpa FOB Roma 1 Train: 600 TJ/d CSG CSG LNG Portfolio Gas 2 Trains: 1,200 TJ/d Train 2 7.2mtpa FOB 13 Storage GLNG Milestones Achieved GLNG is progressing key milestones Two trains, five train site Downstream FEED 90% complete Upstream FEED 75% complete Binding off-take agreement Supplementary EIS lodged - Public submission period closed Long lead engineering orders placed Water solution - 1 million trees planted FID 1 st train Mid 2010 First cargo

9 GLNG Reserves and Resources GLNG has dedicated reserves and resources in excess of 10 tcf 2P reserves exceed requirement for first train 95% uncontracted and available to project Dedicated reserves & resources in excess of 10tcf Portfolio gas provides optionality GLNG will execute the most capital efficient reserves build 12,000 10,000 8,000 6,000 4,000 2,000 0 GLNG Dedicated Areas (PJ) 6,772 4,003 GLNG 2P + 2C 378% 549% excl GLNG sale 10,931 5, % 277% GLNG 3P + 3C 2P 2C 3P 3C 1,000 PJ = 0.94 tcf 15 GLNG Upstream Update GLNG has a comprehensive program to prove up reserves and deliverability Wells CSG wells were drilled for GLNG in Successful deviated drilling trials: reduces cost and increases productivity Environment - Supplementary EIS lodged Dec 09, public submissions closed 1 Feb Water management approved. Fairview forage irrigation and hardwood plantation established 1 million trees planted so far Upstream FEED - Dual competitive FEEDs 75% complete - FEED finalisation 2Q10 16 Gas Production Rate (TJ/d) Well Production Comparison March 2009 vs January 2010 Sales Gas Snapshot: 27 March 2009: 91 TJ 7 January 2010: 126 TJ Fairview Wells March 2009 Gas Production March 2009 Cumulative Gas Rate (TJ/d) January 2010 Gas Production January 2010 Cumulative Gas Rate (TJ/d) Cumulative Rate (TJ/d) 8

10 GLNG Downstream update Curtis Island site - EIS application for 10mtpa capacity (3 trains) Downstream FEED - Bechtel appointed - 2-train FEED 90% complete - Curtis Island geotechnical site survey work complete Pipeline FEED - FEED 90% complete (GHD) - Pipeline tender released Marketing - Binding offtake agreement with PETRONAS for 2mtpa plus 1mtpa at GLNG sole option - Ongoing detailed discussions with other Asian customers for offtake and equity 17 T4 T5 T1 T2 T3 Pad Drilling Technology innovation will realise value and opportunities Pad Drilling 2-9 wells/pad Reduced rig moves CAPEX and OPEX savings Facility simplification Economies of scale Operator efficiency Gas to processing station Water to plantation/crops 18 9

11 Ramp Gas Strategy Roma gas storage is integral to ramp gas management 600 Roma Storage Withdrawal Gas supply (TJ/d) Turndown &/or Portfolio Gas Sales Roma Storage Injection Gas Production Existing Domestic Contracts and supports gas supply optimisation 19 PNG LNG, Darwin LNG and Bonaparte LNG 20 10

12 Papua New Guinea LNG PNG LNG Project FID approval signals next step in LNG growth strategy FID approved on 8 Dec SPAs executed, remaining one expected to be executed in early-2010 Financial Close 1Q 2010 First sales are targeted for 2014 Santos interest 13.5% Plateau Production of ~9 mmboe pa net to Santos 2P reserves addition 218 mmboe 21 Papua New Guinea LNG Santos acreage and infrastructure position provides opportunity for further growth First redetermination to follow Hides drilling in 2012/13 Debottlenecking has the potential to increase off-take 3rd train alternatives being considered - Hides drilling results could be key driver Papua New Guinea Hides PDL 1 Legend Santos acreage Oil field Gas field PDL 3 PRL 9 Marine Terminal Gulf of Papua Oil pipeline Proposed gas pipeline 100km LNG Plant Port Moresby 22 11

13 Bayu Undan / Darwin LNG Santos first producing LNG asset Santos interest 11.5% Bayu Undan - producing ~1.1bcf raw gas per day (gross) - Approximately 103,000 bbl/d liquids (gross) DLNG 3.5mpta plant - Turbine upgrade during 2010 statutory shutdown to increase to 3.6mtpa Base project continues to deliver with potential upside unfolding: - Third Party Gas - Phase 2 Drilling campaign 2010 planned shutdown; 35 days in 2010 will reduce production and increase production cost for the year 23 Bonaparte LNG Partnership with GDF SUEZ unlocks value in 360mmboe of contingent gas resource Santos has sold 60% of Petrel/Tern/ Frigate to GDF SUEZ for up to US$370 million and a full carry of Santos share of costs to FID The fields are an ideal fit for FLNG: - Low in CO 2 - Low in liquids - Material resource size (~2.1 tcf) Executing on strategy: - Unlocks value in contingent resources - Partner with world class companies - Deepening our LNG growth options - Use new technology Transaction completed Jan 2010 GDF SUEZ and Santos establishing project team in Perth Santos retains approximately 70% (500mmboe) of its total Bonaparte Basin 2C contingent resource

14 Burnside Discovery Exploration success Torosa WA-274-P WA-410-P Poseidon Argus WA-274-P Territory of Asmore & Cartier Islands Ichthys North WA-274-P Concerto Echuca Prelude Shoals Ichthys Montara Crux Cornea Legend Santos acreage Oil field Gas field Brecknock Calliance Caswell WA-411-P WA-281-P Burnside Gwydion Western Australia 25 Arquebus Psepotus Kilometres in a great street address Mapped Area Australia Domestic Gas 26 13

15 Gas is an Underutilised Fuel for Power Generation in Australia Power Generated from Natural Gas (%) 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Singapore Thailand Malaysia California Italy UK Japan NZ US Korea Germany Australia India Canada China Source: IEA 2007 Edition; EIA; Santos est. 27 Demand for Eastern Australia Gas Demand will nearly triple within 10 years PJ/a Planned LNG Projects Year Historic Average Carbon driven fuel switching Source: AEMO, EnergyQuest, Santos, Company Announcements driven by LNG export and carbon policy 28 14

16 Santos Unique Position Suits the Rapidly Developing Market In every producing basin Infrastructure network in place Arbitrage value across supply points Facilitates ramp gas management Hub Potential hub Gas pipeline 29 Moomba Patricia Baleen plant Reports of the Cooper s Death are Greatly Exaggerated Cooper Gross Reserves and Unrisked Resource Potential Conventional Reserves/Resources Aspirational 75% 2P Recovery Factor 2,866 PJ Cooper infill 2P Booked Contingent Resources 1,584 PJ Current Produced 6,317 PJ 2P Reserves 1,163 PJ Note: Gross volumes 30 15

17 Create Supply Cooper Infill, Beyond the 2P Technically robust, multi tcf potential Rock Outcropping of Mesaverde Spacing River Deposits 10 acre 20 acre 40 acre Land Sat Image - Jonah Field (USA) Green = current Cooper spacing ~200ac 31 Reports of the Cooper s Death are Greatly Exaggerated Gross Unrisked Resource Potential Unconventional Resources Booked Contingent Resources 4,750 PJ Developed Conventional Moomba TOOL DARA Unconventional Resource Potential: 39,000+ PJ Undeveloped Unconventional Gross gas thickness ~1600 feet Shale Gas ROSE EPSI MTRE Tight Gas PATC Deep Coal Note: Gross volumes GRANITE 32 16

18 Gunnedah Basin Next Major Play in Coal Seam Gas Basin master position with >50 tcf prospective potential ESG operated areas - Net 2P reserves 724 PJ 33 - Net 2C resource 951 PJ STO operated areas - Initial exploration phase underway program: - 4 coreholes pilot wells - 90 km seismic PEL 434 PEL 462 Dubbo PPL 3 PAL 2 50km PEL 450 PEL 433 Wilga Park Power Station Narrabri PEL 238 PEL 12 PEL 456 PEL 1 Legend Santos operated acreage Eastern Star operated acreage Gas pipeline Proposed gas pipeline Focussing on commercialisation New South Wales Gunnedah PALA 5 Tamworth PEL 452 Newcastle Proposed Shaw River Power Station Targeting FID 2H 2010 Power generation consistent with commercialisation of Santos extensive gas resources SRPS now targeting FID in 2nd half 2010: - Regulatory certainty (CPRS) - Key approvals - Partner selection Santos portfolio to supply gas Proposed Shaw River Power Station Site Orford Koroit Willatook Port Fairy Warrnambool Proposed Pipeline Route Victoria Mortlake Terang Camperdown Allansford Port Campbell 0 15 km Bass Strait Timboon 34 17

19 Western Australia Domestic Gas Exposing Santos to WA resources boom Demand No reliance upon wholesalers and retailers for channels to market Material market (1,000Tj/d) Supply Incumbent asset holders in shallow water are well positioned Santos well positioned before new LNG projects to grow domestic market share: - Reindeer (first gas Q4 2011) - Halyard / Spar (short cycle time via Varanus Island facilities) 35 Onslow Exmouth 5% PERTH Bunbury 17% 5% 25% Port Hedland Dampier 25% 3% Sources of demand* Alumina 25% Electricity generation 25% Chemicals 20% Mining 15% Mineral Processing and Manufacturing 10% Residential/Commercial 5% 5% 5% Albany Kalgoorlie 10% Share of demand centre** *Source: RISC ** Source: Santos Hub-led Strategy Santos supplies gas via one of two existing hubs and one new hub under construction Focused NFE Reindeer Spar / Halyard Legend Santos acreage Oil field Gas field 36 John Brookes East Spar Gas pipeline Gas hub 2010 NFE well Varanus Is. Devil Creek with focused NFE in shallow water close to existing hubs targeting low risk/quick cycle gas tie-back prospects 18

20 Hub 1: Varanus Island John Brookes - Producing asset - 45% working interest - New gas sales at higher prices - Field capacity +300TJ/d (gross); East Spar plant capacity ~230TJ/d (gross) - Opportunities to maximise production via spare processing capacity in Harriet Joint Venture and sales to Harriet parties Spar / Halyard - Apache progressing Halyard development - Spar development under review NFE Opportunities - Existing acreage with shallow water and access to existing gas hub - Spar Deep and East Spar East NFE wells planned in 2010 Spar / Halyard Focused NFE John Brookes East Spar Varanus Is. 37 Hub 2: Devil Creek/Reindeer Devil Creek / Reindeer new gas hub Reindeer Creation of 3 rd WA gas hub Under development first gas Q % working interest Shallow water offshore platform 45kms south west of Dampier Two train production capacity (field and plant) 215 TJ/d (gross). Site designed to take an additional train NFE within existing acreage in shallow water and targeting low risk tie-back prospects to new hub CITIC Pacific Iron Ore gas sale (US$585m); other contracts to follow Focused NFE Devil Creek Reindeer works assembly yard in Thailand 38 19

21 2009 Full Year Results Profits Impacted by Lower Product Prices 2009 Full Year Result Oil Price Production Sales Revenue Underlying Net Profit After Tax Net Profit After Tax Operating Cash Flow Final Dividend A$78.83 per bbl 54.4 mmboe $2,181 million $257 million $434 million $1,155 million 20 cents per share 40 20

22 Production Cost, Cost of Sales Lower $m Production Cost $9.99/ boe $9.78/ boe $m Total Cost of Sales $25.50/ boe Gas Purchases $23.67/ boe Cost of produced gas Includes production cost, tariffs, tolls and pipeline costs, royalties, inventory and DD&A 41 Segment EBITDAX Summary $m Segment Eastern Australia WA&NT GLNG Asia Pacific Gains on sale of assets 261 1,697 Corporate and unallocated items (65) (42) Total EBITDAX 1,588 3,683 Eastern Australia WA&NT GLNG Asia Pacific Lower liquids prices and production volumes Higher gas volumes but lower liquids prices and volumes Expanding field operations increasing production costs Higher gas production, lower liquids prices and volumes 42 21

23 $5 Billion of Funding Capacity $m 31 December 2009 Cash & term deposits 2,240 Undrawn, committed corporate lines 700 Undrawn, committed project line* 2,117 Cash & committed debt lines 5,057 * Converted at year end exchange rate 43 Reserves Growth and Resource Conversion mmboe Commercialisation p ,849 (412) Divest 2500 (342) Revisions 153 q Acq 250 2,498 mmboe To cash ,013 Commercialisation 378 (44) Prod Revisions Acq/ (54) 147 Div 1, C Contingent resources P Reserves

24 45 Reference Slides Delivering Transformational Growth March 2010 Indonesia: Madura Offshore PSC Maleo performing beyond expectation; incremental growth from Peluang Maleo - Production start-up 29 Sept Gross gas production ~ 110 mmscf/d - Reserve upgrade at end Long term sales gas contract to PT Perusahaan Gas Negara Peluang - Peluang-1 well drilled in 1Q Potential tie back to Maleo to maintain plateau Surabaya Grati Processing Plant 50km Legend Santos acreage Oil field Gas field Peluang-1 Madura Island East Java Oil pipeline Gas pipeline Maleo Madura Offshore PSC Bali 46 23

25 Indonesia: Sampang PSC Oyong Phase 2 delivered on time; incremental growth from Wortel Oyong Phase 1 (oil) - Production performance above expectation at ~ 3600 bbl/day (gross) Oyong Phase 2 (oil and gas) million manhours without a Lost Time Injury - Gas production start-up on time (Q309) and plateau of ~ 60 mmscf/d (gross) reached within 20 days - Gas sales to PT Indonesia Power Wortel - Tie back to Oyong - POD approval expected in December FID targeted mid First gas forecast 2H Surabaya Wortel Grati Processing Plant 50km Legend Santos acreage Oil field Gas field Madura Island Oyong Sampang PSC East Java Oil pipeline Gas pipeline Java Sea Bali Vietnam Attractive oil project providing medium term growth with upside Chim Sao Project reshaped for value Revised Field Development Plan approved by Government Principal contracts covering EPCI and FPSO lease executed in October Wellhead platform expected to be installed 2H 2010 Latest capital expenditure estimate $US270 million net First oil targeted for 2H 2011; net plateau production ~ 8,000 bbl/d Dua tie-back being evaluated 2D seismic complete in Block 123 in Phu Khanh basin, drilling in 2011 planned. Burma Laos Thailand Legend Santos acreage Oil field Gas field Vietnam Cambodia Chim Sao Oil pipeline Gas pipeline China South China Sea Dua 123 PSC 12W PSC 48 24

26 Bay of Bengal Potential for medium term exploitation business in Bangladesh and long term business in India Bangladesh - Chittagong gas market significantly undersupplied - Sangu well optimisation is extending field life - Free market gas rights obtained for Magnama - 3D seismic on Magnama and South Sangu planned for early 2010 India - Targeting material gas prospectivity for domestic market - 3D seismic program largely complete - Interpretation underway India Legend Santos acreage Gas field Bangladesh Bay of Bengal Oil pipeline Gas pipeline India Sangu Block 16 NEC-DWN-2004/2 NEC-DWN-2004/1 Burma 49 Kyrgyz Republic Potential for medium term exploitation business. Key tests in 2010 & 2011 Leading acreage position 2D seismic complete Shallow prospects drilled in 2009 secured prospective acreage and developed concepts Deep drilling in 2010 & 2011 Early production feasible with multiple export options Option secured on acreage adjacent to Kyrgyzstan licences Uzbekistan Andizhan Fergana Tajikistan Legend Santos acreage Refinery Oil field Kazakhstan Talas Kyrgyz Republic Osh Oil pipeline Gas pipeline Jalal-Abad Bishkek China Naryn 50 25

27 2010 Forward Exploration Drilling Schedule Gross Unrisked, Upside Resource Santos Well Name/ Potential (mmboe) Interest CSG Program Basin / Area Target % Timing PEL 433 (1CH) Gunnedah Gas CSG 48.0 Q1 PEL 434 (2CH) Gunnedah Gas CSG 48.0 Q1 ATP 631P (R) (1CH) Surat Gas CSG 81.9 Q1 EPC 937 (1CH) East Bowen Gas CSG 85.0 Q1 PEL 452 (3CH) Gunnedah Gas CSG Q1 ATP 655P (2CH) Surat Gas CSG Q2 ATP 745P (2CH) Bowen Gas CSG 79.6 Q3 West Soh 1 Fergana / Kyrgyz Rep. Oil 70.0 Q3 Spar Deep Barrow / Australia Gas Q3 North Auchi 1 Fergana / Kyrgyz Rep. Oil 70.0 Q4 West Mailisu 1 Fergana / Kyrgyz Rep. Oil 80.0 Q4 ATP 868 P (3CH) Surat Gas CSG Q4 East Spar East 1 Barrow / Australia Gas 45.0 Q4 Alabuka West 1 Fergana / Kyrgyz Rep. Oil 70.0 Q4 Australia Offshore Australia Gas 50.0 Q4 The exploration portfolio is continuously being optimised therefore the above program may vary as a result of rig availability, drilling outcomes and maturation of new prospects 51 Reported & Underlying Profits Reported NPAT Underlying NPAT $m (341) Prices & Operating 2009 foreign result exchange 52 26

28 Production on Guidance Production from continuing operations grows 0.8 mmboe Natural decline and effect of downtime events offset by new production mmboe Asset sales New Natural production decline and and field downtime productivity 54.4 (0.8) 53.6 (3.1) Continuing operations 53 Sales Volumes Grow 8% 3 rd party gas emerges as profit centre Oil production continues decline Gas production more than offsets lower oil outcome Third party gas revenue $131 million mmboe $m Purchased Gas 5.2 Produced 52.8 Reserves Price & fx Volume Mix 2,762 (597) 155 (139) 2,

29 DD&A Declines by $50 million Rate Volume Additional reserve bookings in Cooper and Indonesia drive lower depletion rate $m (7) 612 Slight increase in depreciation on GLNG facilities $12.17/boe $11.25/boe 55 Significant Items (after tax) $m Underlying profit Significant items 177 1,102 Net profit after tax 434 1,650 Significant items: Gain on sale of oil and gas assets/controlled entities 180 1,188 Impairment of oil and gas assets (17) (140) Provision of contract losses: rigs and offices (17) - Foreign currency losses/gains (21) 18 Remediation and related costs of incidents Change in fair value of embedded derivatives 3 (9) Investment Allowance 21 - Income tax 6 28 Net profit/(loss) impact of fair value hedges 3 6 Total 177 1,

30 2010 Guidance Item Production (mmboe) Production costs ($m) DD&A expense ($/boe) Royalty related taxation expense 1 ($m after tax) Capital expenditure (including exploration & evaluation) 2 ($m) 2010 Guidance to 110 2,800 1 Royalty related taxation expense guidance assumes an oil price of A$90 per barrel. 2 Capital expenditure guidance includes $150 million for conventional exploration Sensitivities Sensitivity Change NPAT Impact A$m US dollar oil price US$1/bbl 9 Gas price 10 cent/gj 18 A$/US$ exchange rate 1 cent 8 Interest rates 1%

31 Contact Information Head office Adelaide Ground Floor, Santos Centre 60 Flinders Street Adelaide, South Australia 5000 GPO Box 2455 Adelaide, South Australia 5001 Telephone: Facsimile: Useful contacts Share register enquiries: webqueries@computershare.com.au Andrew Nairn Group Executive Investor Relations Level 10, Santos Centre Direct: Facsimile: andrew.nairn@santos.com Brooke Hann Investor Relations Analyst Level 10, Santos Centre Direct: Facsimile: brooke.hann@santos.com Investor enquiries: investor.relations@santos.com Website: